Key Impact Points:
- The ASEAN Blue Carbon and Finance Profiling (ABCF) Project will map, value, and integrate blue carbon into national policies across ASEAN and Timor Leste.
- Backed by Japan and implemented by UNDP Indonesia, the initiative seeks to unlock climate finance for seagrass and peatland restoration.
- The project aligns policy, science, and finance to position blue carbon as a central pillar of sustainable growth in the region.
UNDP and Japan Launch ASEAN Blue Carbon Finance Project to Scale Climate Action in Southeast Asia
The ASEAN, Government of Japan, and UNDP officially launched the ASEAN Blue Carbon and Finance Profiling (ABCF) Project in Jakarta, marking a strategic step forward in managing blue carbon ecosystems across the region.
The project will map and value carbon stored in seagrass, peatlands, and coastal ecosystems using satellite technology, field assessments, and scientific data. Its goal: unlock financing solutions that support climate resilience and inclusive growth across all ASEAN Member States and Timor Leste.
“Blue economy has emerged as a vital driver of growth while ensuring the preservation of water resource ecosystems in ASEAN,” said H.E. Mr. Satvinder Singh, Deputy Secretary-General of ASEAN for the ASEAN Economic Community.
“The blue carbon market, though nascent, is emerging as a potential revenue stream for countries investing in conservation and restoration.”
Driving ASEAN’s Blue Economy Strategy
Funded by the Government of Japan and implemented by UNDP Indonesia, the ABCF Project is part of the ASEAN Blue Economy Framework and builds on the earlier ASEAN Blue Economy Innovation Project. The initiative aims to:
- Enhance technical capacity for carbon stock assessment
- Create finance-ready blue carbon profiles
- Integrate blue carbon into regional development strategies
“Japan is honoured to support this important initiative,” said H.E. Mr. KIYA Masahiko, Ambassador of Japan to ASEAN “Together, through strategic collaboration and partnerships, we can establish a regional platform to measure Blue Carbon and Blue Finance for climate action and sustainable growth.”
Untapped Potential in Seagrass and Peatlands
Southeast Asia holds 33% of the world’s seagrass beds and nearly 40% of known tropical peatlands—representing 6% of global peatland resources. However, these ecosystems remain underutilized due to technical and policy barriers.
“Seagrass and peatlands are among the most effective and affordable nature-based solutions for mitigating climate change,” said Mr. Norimasa Shimomura, UNDP Indonesia Resident Representative.
“Through the ABCF Project, UNDP is proud to collaborate with ASEAN and the Government of Japan in bridging science, policy, and finance to unlock the potential of blue carbon for sustainable development.”
Regional Collaboration for Climate Finance
More than 100 stakeholders—including policymakers, scientists, and development partners—gathered in Jakarta for the launch. A high-level panel explored how blue carbon can be integrated into national climate strategies, spotlighting Japan’s experience.
The ABCF Project is designed to inform ASEAN-wide policy dialogues and mobilize climate finance for marine restoration and protection. Findings will support strategic planning and investment at both national and regional levels.
Related Article: KPMG Weighs in on Activating Private Capital Confidence in the Blue Economy
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